(a)

1. (1) Funds will be awarded based on the application, at a minimum, meeting the general national Housing Trust Fund (HTF) requirements listed in 15 CAR § 91-108 and the total score of the application.
2. (2) Once Arkansas Development Finance Authority has determined that the application meets or exceeds all requirements, the authority will award funds to the highest-scoring project until all HTF funds have been allocated.
3. (3) There is no minimum score.

(b)

1. (1) The authority’s selection of eligible recipients will be based upon those applicants achieving the highest scores, and awarded in that order, until funds are depleted.
2. (2) The reviewing underwriter will score each application using the scoring matrix.

(c)

1. (1) The authority reserves the right to deny an HTF allocation to any applicant or project, regardless of that applicant’s point ranking if, in the authority’s sole determination, the applicant’s proposed project is not financially feasible or viable.
2. (2) Regardless of strict numerical ranking, the scoring does not operate to vest in an applicant or project any right of allocation in HTF funds in any amount.

3. (3) The authority will in all instances reserve and allocate HTF funds consistent with:

   1. (A) Sound and reasonable judgment;
   2. (B) Prudent business practices; and
   3. (C) The exercise of its inherent discretion.